People thinking 'leaky ship' are probably mistaken. Isn't it more likely:
- a leaky ship is such from the beginning (usually when a company is performing badly) and not likely to become one suddenly. Race has a small number of staff and most of them are in the senior mgmt/ director roles. They likely know when Race is undervalued and would buy on market. No need for them to 'leak' anything to outsiders. All the expected news from the previous quarter has been released - so there is likely to be less planned anns though potential for left anns remains.
- that the tax loss selling is behind us and people are now back in the market?
- the fundamental news in the last quarter and in the last week is out of the park! The news is slowly sinking in? I expect the news to sink in more as we have the quarterly towards the end of the month. Some mature investors/ fundies may wait for 4C's and then start their DD instead of reading every ann.
- the sandbags (buyback?) seems to be operating as expected, by putting a floor to the dumping. This must be giving confidence to the accumulators that the sandbags will only move up as there is very little breathing space (2%) above the max buyback price and the previous close/ opening price.
- FOMO is setting in?
Anyway, unless people can convincingly articulate a leaky ship theory, I refute it and believe it is driven by fundamentals.
AIMHO. GLATH.
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Last
$1.57 |
Change
-0.045(2.80%) |
Mkt cap ! $260.3M |
Open | High | Low | Value | Volume |
$1.60 | $1.60 | $1.55 | $94.33K | 60.12K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 1250 | $1.57 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.59 | 5000 | 1 |
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No. | Vol. | Price($) |
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1 | 1250 | 1.565 |
1 | 6129 | 1.560 |
1 | 424 | 1.550 |
2 | 15170 | 1.540 |
1 | 600 | 1.530 |
Price($) | Vol. | No. |
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1.590 | 5000 | 1 |
1.595 | 591 | 1 |
1.600 | 13999 | 1 |
1.620 | 1300 | 1 |
1.650 | 18000 | 2 |
Last trade - 14.37pm 16/05/2024 (20 minute delay) ? |
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Change
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